Five safe havens to seek out now

We discover where the experts putting their cash to hedge against the current turbulence

INVESTORS have been pouring into "alternative" investments such as water and wood to shelter from this month's turmoil in the equity markets.

The FTSE 100 index of leading shares closed down 3% on Friday after a week of huge volatility. It is 9% lower than three weeks earlier when the trouble began, sparked by fears that higher global interest rates would force companies and consumers to tighten their belts.

Many commentators predict the jitters will continue. Bank of England governor Mervyn King warned last week that "tremors in financial markets" could herald more turmoil to come.

Central banks in Europe, America and Asia have also taken the unusual step of injecting billions into the money markets to shore up confidence.

We asked some of Britain's top professionals what they were buying in such choppy stock markets.

Water

Andrew Popper at SG Hambros, an investment bank, is backing water investments for